Bill Text: IN SB0279 | 2013 | Regular Session | Enrolled
Bill Title: Nonnamed parties in foreclosure actions.
Spectrum: Bipartisan Bill
Status: (Passed) 2013-05-13 - Public Law 189 [SB0279 Detail]
Download: Indiana-2013-SB0279-Enrolled.html
First Regular Session 118th General Assembly (2013)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
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SENATE ENROLLED ACT No. 279
AN ACT to amend the Indiana Code concerning property.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 32-29-8-2; (13)SE0279.1.1. -->
SECTION 1. IC 32-29-8-2, AS AMENDED BY P.L.130-2012,
SECTION 5, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2013]: Sec. 2. A person who
(1) is assigned a mortgage and fails to have the assignment
properly placed on the mortgage record or
(2) has an interest described in section 1 of this chapter and is not
made a party to the foreclosure action as required by section 1 of
this chapter;
is bound by the court's judgment or decree as if the person were a party to the suit.
is bound by the court's judgment or decree as if the person were a party to the suit.
SOURCE: IC 32-29-8-3; (13)SE0279.1.2. -->
SECTION 2. IC 32-29-8-3, AS AMENDED BY P.L.130-2012,
SECTION 6, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2013]: Sec. 3. A person who:
(1) purchases a mortgaged premises or any part of a mortgaged premises under the court's judgment or decree at a judicial sale or who claims title to the mortgaged premises under the judgment or decree; and
(2) buys the mortgaged premises or any part of the mortgaged premises without actual notice of
(A) an assignment that is not of record; or
(B) the transfer of a note, the holder of which is not a party to
the action;
holds the premises free and discharged of the lien.However, any
assignee or transferee may redeem the premises, like any other creditor,
during the period of one (1) year after the sale or during another period
ordered by the court in an action brought under section 4 of this
chapter, but not exceeding ninety (90) days after the date of the court's
decree in the action.
(1) purchases a mortgaged premises or any part of a mortgaged premises under the court's judgment or decree at a judicial sale or who claims title to the mortgaged premises under the judgment or decree; and
(2) buys the mortgaged premises or any part of the mortgaged premises without actual notice of
holds the premises free and discharged of the lien.
SEA 279
Figure
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Graphic file number 0 named seal1001.pcx with height 58 p and width 72 p Left aligned
